Used combination of Renko hourly chart pattern clubbed with Supertrend indicator & EMA on NSE:BANKNIFTY. Supertrend indicator clearly giving a bearish signal along with Renko charts reversal & EMA crossing. This signal is further confirmed by Aroon indicator below where red bearish indicator crossing above the green bullish indicator. Go ahead with shorting NSE:BANKNIFTY
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Sold at 25189 (around 09:25). Falled around 280 (1.1%) and closed at 25902.
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No Targets & stoploss is mentioned for this call. We will close short position when: 1. Supetrend turn bearish (Showing down arrow) 2. Aroon bullish indicator (green) cross bearish indicator (red) 3. Renko charts turns green and start moving upwards crossing EMA line.
Normally all these 3 things happens simultaneously with an hourly gap. If not, we will ignore it and continue our bearish position.
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Maintain your short position. Tomorrow we should see some downside.
Trade active
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Patience is paying well. Bank Nifty reversed and falling further. Gained 750 points till now (reached 24448 level)
Trade closed: target reached
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Gained 1300+ points. Now it seems I should sell. Made profit of 205% on CE24500 28MAR2018.
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Sell Signal didn't yet came on Renko Charts although :)
'BUY' signal not yet appeared, so continuing with the current short position. Unfortunately, you will not see updates in above charts as 'Load new bar' functionality doesn't work on 'Renko bar Charts'. I am trying to post the chart as a Pic in comment section. Do you know how to post Chart Pic in comment section?